but the uk has changed. ou want to have really low prices, go to al did i or if you want quality you go to -- so i think david was talking about the turn around plan. >> to me, this seems very similar to the airline wards. they launched many discount partnerships. i know recently sainsbury has gone off to partnerships with netto. should they be launching their low cost aversions? >> yes, they should. you can't have one store that deals with everybody. tesco has the most locations. they could say, well, there are 300 stores. eventually, low prices in retail you need low costs. then they would be able to compete. >> these are just starting levels we're talking about. these are businesses that have spent many, many years on the supply chain. >> tesco provides 40,000, 50,000 products in the cheapest way. but it's doing the wrong thing. if you only have to put 2,000 items on the shelf, you can do it. that's very different. it's not that they're efficient at what they do. >> what about the timing? it's poised to st

this crisis though it's not just affecting iraq but has consequences for the whole world including the uk. can he tell what extra measures we're taking and cuddly including to the border agency and home office to assure the british nationals in the region cannot return here and engage in violence extremism or terrorism? can he say what the government is doing to prevent people in this country becoming radicalized and traveling to the region in order to fight? >> i believe this is the current focus as i said yesterday, our approach to this issue must be based on hardheaded assessment of our national interest to most important is how to keep our citizens safe here at home and the leader asked specifically by the actions we're taking. we will be legislating in this session of parliament to make the planning of attacks overseas illegal here in the uk. we will be making sure our security, intelligence and policing resources are focused particularly on this part of the world and the danger of british people traveling there but becoming radicalized and returned to duty. we've stopped a number of

whereas in the uk and the u.s. be starting to move up, and carney told us last night that rates are likely to move up this year. well, do you want to own uk bonds relative even to the front end of europe in that situation? >> very, very quickly, i have to finish one line on how you make money in these markets. >> you've got to be really active and take a lot of different positions, particularly different yield curve positions where we see value. >> perfect. kevin, great to chat to you. kevin evans, director of fixed income at henderson global investments. >>> the u.s. marshal service plans to auction $18 million of bitcoin seized from the website last fall. silk road was used as a hub for transactions involving illegal drugs and other criminal activities. the site's owner also known online as dreadpirate roberts has been charged with drug trafficking and money laundering. the bitcoin sale will take place on june 27th. get there if you fancy some bitcoins. >>> by the time millennials reach the age of 17, they will ha

because if the uk is managing to get so much of the business online, are other countries mimicking to certain extent what is uk is doing? >> there is some mimicking going on. initially, countries are pioneering trying to compete with themselves. france, they order online and drive through to pick up your shopping at a particular designation and then you drive on home that's only been around for a couple of years, but already worry seeing man fastations of it considering where you order it, where you pay for it and where you conceive it. particularly in the uk, we are seeing different behaviors emerging. >> we have to take a quick break, john. thank you so much for joining us, director of retail at kantar. >>> next on "worldwide exchange," will merkel be celebrating? that's right after the break. and if i tap my geico app here i can pay my bill. tap it here, digital insurance id card. and tap it here, boom, roadside assistance. on'tday ooklay, it's axwellmay. the igpay? otallytay. take an icturepay! onephay, onephay! really, pig latin? [ male announcer ] geico. anywhere, anytime. just

that's the big conundrum in the uk economy. sing asset prices like housing, people have been spending in shops but most of that has been done, let's not forget, by pilfering our savings and really the type of wage inflation that's going to drive the economy forward for the next year, 18 months, hasn't quite taken off. even though we had slight wage inflation last time around, a lot of that was driven by bonuses. >> we don't want too much wage inflation, the bank will have to ratchet up interest rates more. >> i don't think we'll see an interest rate hike anytime yet. but monetary policy is not just about interest rates anymore. it's a whole suite of tools that the bank has at its disposal if i can get it out. in a couple weeks, we'll see all of these macro prudential tools potentially being used to tweak the housing market. you've seen lloyds, rbs, trying to calm those markets down with loan-to-income cap. you might see the bank of england sdoing similar things. >> maybe they won't have to do anything if the banks are acting ind

attorney general and the uk banks. barclay's was the number two players in this field and some of these allegations are man th in after bob diamond seems to give the bank a fresh imagine. he is very keen on things like technology, which is supposed to be about what all things are about in the future. truth be told, a third of its investment has come from the exchange. you have this massive restructuring just a couple of months ago where they curtailed a lot of their businesses, they're borrowing a lot of people, especially in europe and asia, and their cash cow has been the u.s. and that's going to be very difficult when the regulator is breathing down your throat. so remember, it wasn't long ago we saw rbs say they are going to shrink their u.s. business so they wouldn't have to hold more capital as directed by the fed. so there is definitely something in it. u.s. regulators versus european banks. >> barclay's on the defensive once again. helia, thank you so much for that. we'll get back to you later on in the program

the uk is reinstating relations with iran. what does this mean in practical senses? >> it means we can reopen the big embassy in downtown teheran which i visited earlier this year. it has had over 50 locally engaged staff operating on a care and maintenance basis. iran is a large country, 80 million people, middle income, strategically in a sensitive place, distinguished civilization and history. it's crucial we develop a better set of relationships with iran and move from seeing them as an adversary which i never regarded them as being to closer partners. the truth is even if you're on hard boiled american skeptic, in a moment if iranians and the west have similar interests in respect of iraq to see an end to this al qaeda inspired terrorism. also to see some stability in iraq and that requires a lot of counselling of prime minister maliki that he's got to be more inclusive of the sunni if there's to be any chance of this democracy in iraq actually working. >> we'll talk about how iran can influence what's happening in iraq. it's a convenient time isn't it since isis

remember, we have a supply problem in the uk. that is not going to go away with any of these tinkers. >> get your bulldozer out. hel helia, good to see you as always. thank you for that. >>> the reserve bank of governor, kept the interest rate at 8%. they did take steps to increase the availability of credit. thanks very much for joining us. sort of as expected, is the heavy lifting going to have to come from the modi government? i don't know if he can hear us. it's ross in london. can you hear me sitting there in hong kong? >> yes, hi, i can hear you. >> good. i was just wondering, no move from the rbi. does the heavy lifting for the economy now have to come from the new modi government? >> so i think there's a lot of expectations right now force the new government sort of good form. i think this is first policy. in my opinion, i think they've done a good job. they maintain in other policies. they create a little bit of room for credit growth which i think is more symbolic at this point in time. because the credit growth is right

bbc news. >>> and for those of you watching in the uk, see full story on horizon. n at 9:00 this evening and on the bbc i player after that. the program is called where is flight mh 370? >>> now let's go to events in kenya. al shabaab has staged another attack on the coast. this time killing at least ten people. al shabaab says those killed include police officers and wild life. the gunmen targeted villages in the area close to the town of mpeketoni. that's where 48 were killed sunday night. al shabaab claims the attacks are in response to the presence of kenyan troops in somalia and harassment of muslims in kenya. dennis is in the capital city of nairobi. i asked him for the latest. >> reporter: top security agents are in the area to speak a while ago making announcement saying they're confirming 15 are reported dead. most of them from the forest and nearby bushes. this is coming at a time when people are out raged especially social media. the trending topics are about attacks there and insecurity in general saying that the government and all the top security agenc

minister from becoming the new uk president. esterday he told lawmakers, quote, if you want reform in europe, you've got to stand up for it. defeat for cameron looking now unne unnestble, the prime minister john maurnlg has said the eu would make concessions to the uk if yeunker is reported. >>> speaking in berlin, james said the ecb has positively tackled the debt crisis, but warned quantity tiefb easing might not work in europe as it has in the u.s. >> and the u.s. will urge the european central bank to step up its efforts to stop deflation. one measure being proposed is the purchase of government bonds. a recommendation in line with previous calls for more stimulative policies, the suggestion was made in a two-page technical document. should the imf be making recommendations like that? the ecb is independent, after all. >> it does not mean the ecb should not listen and discount other bodies. i think the timing is bad. the ecb prevents a very comprehensive package. via the prospect for a program with abs, it's a very, very big

this crisis though it's not just affecting iraq but has consequences for the whole world including the uk. can he tell what extra measures we're taking and cuddly including to the border agency and home office to assure the british nationals in the region cannot return here and engage in violence extremism or terrorism? can he say what the government is doing to prevent people in this country becoming radicalized and traveling to the region in order to fight? >> i believe this is the current focus as i said yesterday, our approach to this issue must be based on hardheaded assessment of our national interest to most important is how to keep our citizens safe here at home and the leader asked specifically by the actions we're taking. we will be legislating in this session of parliament to make the planning of attacks overseas illegal here in the uk. we will be making sure our security, intelligence and policing resources are focused particularly on this part of the world and the danger of british people traveling there but becoming radicalized and returned to duty. we've stopped a number of

if you split out the uk, downward pressure as far as the performance of the uk relative to the rest of europe. i guess as far as time is concerned, the majority in that february/march time. so you kind of imagine if is the most buoyant period of the market perhaps on the downside as far as the performance is concerned. >> it is interesting when you contrast what's happening in asia, there has been a lot of pent up demand and a lot of pent up flotations waiting to come out into the markets. and it looks as though they will. there's been a few changes in regulations and the ipo rules and what not. >> what is the expectation going forward? >> there will be a lot in the market and there's a concern. >> a lot of adjusting, they price at the lower end of the original range. is there a real sense out there now and we're understanding that here we go? >> shall we cross there and have a look? >> absolutely. the bank of england showing a vote 9-0 to keep interest rates understanding changed. after the comments from mark carney we were wondering whether or not martin would this time around vote f

lloyds in the uk, 25% owned by the british government still or the uk taxpayer. negative territory. ooks like the iipo will be belw book value. peripheral wobond markets contie to rise pushing the right can town further. a down further and the spanish governments can borrow the ten-year more cheaply than the u.s.. when you look at that, bear in mind in the real economy, the picture is different. here you have 2% inflation, your real interest rate is very low. in spain, there is virtually no inflation, so real interest rate is very high. and of course many firms were row above th borrow above that. and tonight in sweden, leaders are trying to decide on a new head for the european commission. a strong candidate reflecting a popular vote pushing for pro eu policies across the union would be good for investors long time. but whether they come up with that is another question. >> i saw that firsthand. thank you very much. coming up, what is time worth without time warner? this chart might give you some idea. we'll have more in a moment. plus squawk on the tweet. uber is valued about $17 b

we have seen some profiting, especially here in the uk. ., we're still bracing for the mother of all ipos, alibaba happening in august. do you think that by then during the course of the summer ipo sentiment will have softened over in the use? >> it's hard to say. it's always been a deeper capital market for equities in particular compared to the -- compared to use. when the balance the two, the there is a much deeper capacity to absorb those bigger deals and markets have been waiting. interest adam, we're going to wrap it here. thank you so much. >> thank you. >>> let's take a look at the other top stories doing the rounds today. bank of america has reportedly asked the u.s. attorney general eric holder to meet with the ceo brian moynihan in an effort to resolve differences over a multibillion dollar mortgage settle.. reuters reports bofa has to pay $12 billion while the justice department has suggested $17 billion. >>> oracle's fourth quarter profit fell with revenues falling just 3% in what typically should be the best quarter. both miss

i'm more in the position of the uk. should have another vision. is the point, and she's not had a vision. the great germany is only great thanks to the election not unification. in 1990, they have integrated the exchange rate of east germany, 1 to 4 in one night, 1 to 4. they have destroyed 70% of the capacity of one nation. they have gained in one year 16 million of consumer. of course they become so strong. they kept the wages low for 12 years. at the end, this is not working. they have to hire their wages. they have to increase the internal demand, otherwise europe. and this is the point. now, we have a big majority. but in france, it's a big problem. in two years time if they don't change the problem of jobs, europe is going to fall apart. that's my point. a leadership and change. we have benefit so much, now it's enough. >> you came into this interview saying that optimism in italy is back. hope is back. is what you're saying actually that hope is false because ultimately the structure of europe still doesn't work if the eurozone still doesn'

we're looking at unemployment in the uk, 6.6%. ere over the past couple of sessions hitting an 18-month high. we've had positive data, the industrial output data, for example, on top of these figures. what do you make of it? >> these data are consistent with exactly what we've seen for the last several months. the uk economy is on fire. it is perhaps the best performing economy within the g-10. it's one ofs reasons sterling has continued to see new highs. and why we expect it to continue to be one of the strongest performing currencies within the g-10. it is interesting to note in those data while you do see this very strong trend of industrial production and activity as you noted from yesterday's data, the decline in the unemployment rate much faster than people expected. a below consensus reading today. you do see the softer labor wage data there as well. which is constraining the upside pressure in inflation, which ultimately is the bank of england's mandate. you have this tension here between a strong economy and a lack of infl

in the uk, they're set to poll the trend by 2016. it's alsoest mi estimated when comes to car purchases, women are 80% behind the buying decision. we'll look at the impact on the auto maker industry. we'll have more on that coming up on "gmt" in over an hour's time. follow me on twitter, tweet me. get me @bbcaaron. >> he doesn't look happy. >> he doesn't. >> aaron, thank you. stay with us on bbc world news. much more to come. instead of aaron, how would you like a robot? he's got a job as a security guard. could he present business in the next hour? wait and see. nrz we build it in classrooms and exhibit halls, mentoring tomorrow's innovators. we build it raising roofs, preserving habitats and serving america's veterans. every day, thousands of boeing volunteers help make their communities the best they can be. building something better for all of us. ♪ still running in the morning? yeah. getting your vegetables every day? when i can. [ bop ] [ male announcer ] could've had a v8. two full servings of vegetables for only 50 delicious

it's a trend set to happen in the uk and canada by 2016. d 80% of all car buying decisions, we're going to look at what all that means for the big car makers. police in kenya have blamed if group al shabaab for the attack on a coastal town that's left 48 dead. witnesses say a gang attacked hotels, a police station, bank and petro station several hours. kenya has suffered numerous attacks. united nations is getting ready to hold an environmental assembly next week and outline links between militant say and the environmental resources. what will the report reveal? one of the main points is that armed groups appear to be financed by trade and illegal wild life and timber. poaching animals is actually worth less financially but means species like elephants and rh o rhinos are under threat. we have the director of the wild life program from nairobi. thanks for being with us here can you give us the depths and scale of this problem? >> financially speaking it is a scale we have never seen as of this before. we estimate the legal trade and wild lif

bbc news. >> we've grown up watching them here in the uk. 're always spectacular. >>> just to remind you of our top story, bbc journalists around the world are staging protests with solidarity. these are images from bbc bureaus around the globe in protests at the jailing of peter greste, mohammed fahmy and baher mohamed. the egyptian president al-sisi will not intervene in judicial matters. we're back in a few moments. this is bbc world news. ♪ ♪fame, makes a man take things over♪ ♪fame, lets him loose, hard to swallow♪ ♪fame, puts you there where things are hollow♪ the evolution of luxury continues. the next generation 2015 escalade. ♪fame when you didn't dread when youbedtime becausenner with anticipaof heartburn.itation. when damage to your esophagus caused by acid reflux disease wasn't always on your mind. that's when you knew nexium was the prescription medication for you. because for over a decade nexium has provided many just like you with 24-hour relief from heartburn and helped heal acid-related erosions in the lining of the esophagu

that will be that. >> the uk has one of the world's best care systems.her pain like betty using morphine and also like betty, she says she wants to spend her final days with her family. >> translator: i never get fed up with looking at them. >> both passed away within a few weeks of our interviews. they were given medical and psychological support at the end of their lives, something they said everyone in their situation deserves. bbc news. >> doctor stephen conner is along side me now. figures are shocking. 18 million people dieing in pain, people committing suicide rather than being able to bear it. let's start with the risk of addiction with morphine. how big of a risk is that? >> patients that take morphine when experiencing moderate to severe pain, it's rare for patients to develop addiction. addiction or substance abuse disorder is psychological problem not so much due to the drug but not person's personality. >> but culturally in afghanistan and libya which has no care system in place, won't be there cultural tradition to help people dying even if

police in the uk say they've analyzed all the forensic evidence they can. they don't know who this guy the is. the clerk claims this guy threatens to strap him with a knife. you don't see the knife on the video. it's a subway shob. >> they're thing is $5 foot longs. how much money can be in that register? sglis say the worker was so shaken, he can't work there any more. he had to transfer to another shop. >> every now and again, a video comes across our desk that inspires, that brings a tear to the eye and a smile to the face. >> hi. this adorable little guy you probably know is frosty the snow goat. >> this is frosty the snow goat, a very popular goat online. >> he arrived here about four weeks ago. unable to stand or walk about, things were looking pretty grim. >> little frosty is at add gar's mission farm sanctuary which is in australia. they basically rescue farm animals and give them a beautiful life. this little goat came to the rescue center, couldn't walk, couldn't stand. had a lot of physical problems. but thanks to a special contraption, courtesy

merkel made clear the eu jobs weren't the topic of discussion. ukmeron told the conference he wants britain to stay in a reformed european union. he warned against the eu taking an unhelpful direction. >> we're four leaders willing to confront the challenges facing the eu, to address the problems that stir disillusionment among europe's citizens. i'm confident by working together we can reform the eu and make it stronger and more successful. >> shares in italy as monte dei paschi di siena failed to open for a second day after remaining suspended. the this as the world's oldest bank launched a 5 billion euro sale. speaking exclusively to cnbc, the deputy ceo told me that the problem is purely technical. >> i don't think i would read investor intentions in the share price movement or the failure to open but rather i'd stick to the technical adjustments that need to happen and will happen during the course of the offering. this is not unfortunately for us in italy who deal with the structure and offering is not news, it's happened before. we've seen it

be for the uk tax regime that they would invert into. >> people are talking about inversion. talk about that. as a uk-based company, uk is only 5% of our business, so we just happen to be a global player based in the uk. >> simon, just one quick question. the valuation if you want to talk about the transformation of the hotel industry is reflected in air b & b. we've heard other executives speak about this. are you doing anything to come back at air b & b as a competitive threat? >> it's a robert of the sharing economy and a product of the noise and the views of valuation around tech, but actually if you look at fundamental, the air b & b customer is very much the margin of our business in terms of the wee hours. hotel economy. look at the sharing economy and if there's a big opportunity there for customers who want that sort of product and as a brand we can provide it in a properly regulated and round business way there may be opportunities there and right now it's at the margin and the growth we've been seeing all around the world, the growth in travel demand is all about t

. >>> british foreign secretary william hague say circumstances are right to reopen the uk embassy ind the embassy was closed after being over run over 2 1/2 years ago and we will go to lawrence lee in london and waiting for a statement by parliament by william hague but basically he is saying, look, it's safe to have an embassy in tehr tehran. >> reporter: we know what he will say because he has written a statement and given to the moo mooed -- media and he will say it's their intention to try to reopen an embassy within the next few months and will argue on the face of it what they wanted to do since rohani is elected because they see him as more moderate but anybody can see things are expedited by the situation in iraq and now it appears that for all the bad blood there has been between britain in the past and the united states, towards iran, a country that thought they could never do business with it it suddenly seems the enemies enemies is now their friend and see isis and iraq as a greater problem than iran and you do wonder what all the ramifications of this might be, particula

coalition government so that the be a referendum if there was any significant transfer of powers from the ukn union. i think what the argument is about is how can we achieve reform, what is the most effective way of doing that? is it by sniping from the sidelines or by getting stuck in trying to build allies, as jack said, trying to achieve reform from within the european union? >> we will pause for a second but i'm going to join the queue once again. -- vicky once again. >> dates back to 16 thirds and it's been held for the last three years by sir robert rogers is retiring this year. tell me what it is like to take part in this ceremony? >> a fantastic experience. also reminds the queen and parliament is, there are three parts of parliament. it's also a different contrast because we had a fantastic ceremonial this one. this afternoon the house resumes and there is quite, the bible, underlines the fact it is the right of the, and to proceed with business regardless of what they may need to do after the queen's speech. but that's the framework in the morning and then the hurly-burly in the af

last week the right tribal member said that people in uk have not yet felt any sense of recovery. and today, the north east full-time workers are 36 pounds a week worse off than they were last year. does the prime minister agree with his cabinet colleague? >> the point of would make to the audible lady is i just said that there are 47,000 more people in work in the northeast than the were a year ago. the best route out of poverty is work and what that needs to be followed by are the tax reductions that this government is bringing on to make sure that you are in work and better off in work. that's going to make a difference. >> thank you, mr. speaker. they increase the turnover by 10% to over 2 billion pounds last year and increases the workforce significantly, constituting 2 million private sector jobs but on top of that they'vthey just been voted euron family business of the year. will my right honorable friend join me in congratulating them and agreed to visit? >> i'm sure i will be visiting my honorable friend's constituency before long. i join them in congratulating this great

clinton told bbc the special relationship with uk mattered a great deal to her. the scottish referendum. >> legal process associated with it. we'll see what people decide. i would think it would be a loss for both sides. i don't have a vote. >> finally we asked what everybody wants to know. will she or won't she? >> i'm going to be a grandmother in the fall. i don't want to be passing through and looking forward. i want to be in the middle of it. a presidential campaign is 24/7 all consuming. i'm not ready for that. the most important thing i say in the book, not the questions can you run or would you win? what's your vision for america and could you lead it? >> if she does run and win, she'll make history in the u.s. as the first woman president and as the first presidential couple returning to the white house with their roles reversed. bbc news new york. >> now voters in afghanistan head back to the polls saturday for the elections there. it's a straight contest between the former foreign minister and former finance minister. what do afghan's women want. we talk

. >>> still to come on the show, on the defensive. as ukker looks to protect itself from takeover bids from u.s. rivals. we'll be talking about that after the break. stay with us. ♪ ♪fame, makes a man take things over♪ ♪fame, lets him loose, hard to swallow♪ ♪fame, puts you there where things are hollow♪ the evolution of luxury continues. the next generation 2015 escalade. ♪fame fifteen minutes could save you fifteen percent or more on car insurance. yeah. everybody knows that. did you know there is an oldest trick in the book? what? trick number one. look-est over there. ha ha. made-est thou look. so end-eth the trick. hey.... yes.... geico. fifteen minutes could save you... well, you know. >>> split fortunes. pmi data out of china shows the first expansion in factory activity in six months, as autos surge. but over in europe, disappointing numbers hit markets. >>> ge moves one step closer to securing a deal on alstom's energy business as the deadline for a deal looms. the french government securing an option to buy a 20% stake in buoygue.

this is the 750 motor club in the uk. they race tiny crummy hatchbacks. er cheap. >> all i can think is the announcer, that would be announcing this race -- >> speeds up to 55 miles an hour. >> doesn't look like they're breaking any speed limits here. it doesn't matter. all going at the same speed so you get that real tight racing action. you can hear the guys ringing the necks of the tiny four cylinder engines. yeah. even playing field. >> yep. >> everybody is going the same speed and then comes down to your driving skills. >> you can see his hands on that steering wheel. >> he clips the curbing too much a little bit. the car nearly flips over and gets on two wheels. here's what it looks like from the inside. >> like bumper cars without being stuck in the little ring. >> yeah. >> oh. >> that's the same crash. that's the same two-wheel off track crash except inside number 48's car. his window gets smashed out. all this action in the first lap. >> what? they just like riding on a seat with no body at the end? >> only in the uk. so let's urge somebody here i

in the housing market in the uk. great week, you can see. finally, to brussels where the european union summit, heads of state, underway. earlier signed deals to extend european soft power to those areas in the face of what would be op zilgs frposition from rus. the bigger deal, the uk failed in its attempt to preventing a new commission president, a key leadership position for them moving forward. basically, this leads to more europe closer integration at a time when the uk would like less and would actually like to pay less for it. >> cameron, reportedly saying a sad day for europe. according to the telegraph just now. >> well, that's kind of what they would say. euro skeptic lie nature. >> have a good weekend. >> you, too, sir. >> simon hobbes. >>> when we come back, content maker, now a takeover. the disrupter 50 company yahoo! reportedly wants to buy for $250 million. about speeds and feeds. it's all about latency. it's all about how fast does it run. i often sit with enterprises who ask me about how mission crit

the head of the uk comes along.uess he went to a private school but h that he doesn't acy have a degree. and so he can say i am not like bees guys. i actually worked as a commodity trader. i've done this. he's been a politician as long as i can remember actually. but he has a sort of grain of truth and people who are angry are not looking for a forensic sort of truth. >> host: i'm very struck by the sort of obsession i obsessiy that britain or maybe just the british schooling that you yourself -- >> guest: is a very famous school. i have a slightly unusual background because my parents were immigrants which was a part of the old british empire. my first book was about the empire so. in these elite institutions at cambridge university, and so i kind of got both sides. with that -- i would say people from the more marginal backgrounds do struggle to get a voice but i think it's very important in the political class that we open ourselves up and people that are active in politics. it should be a much easier way to peop

high representative to the uk. i wonder if we can start with the question of refugees. overnight like that a massive crisis. how will you deal with that. >> it's a very good question. we already have 260,000 syrian refugees in the region. we are struggling to cope. we have been calling on the international community to help. this overnight influx of tens of thousands, possibly hundredses of thousands of are refugees from mosul who had to make the journey on foot in 40-degree heat with children, elderly will and sick people. it's a big humanitarian crisis. we will definitely not manage by ourselves. >> no. you're calling for help from the government. the malaki government is calling for helps from the likes of your representatives there looking for the ability to declare a state of emergency. i understand that's fallen by the wayside. could he have got it if parliament had met with a quorum? >> i would have been surprised. unfortunately the prime minister has led a polarized situation --s has created a polarized situation in iraq. in 2010 when he began his second term in

. >> what has the uk foreign secretary been saying? e is about to give a conference when he is going to reiterate the same message the americans said a few days ago. he has met with key political figures, his message, just like the americans is going to be unpopular here. the iraqis see it as meddling in internal affairs of the nation. they say we are forming a go. the president has called for parliament to reconvene on july 1st. else that part of the constitution. so stop putting this pressure on us, instead give us them .that we need in fighting the rebels. it's likely that william hague and the americans will be pleased with the message they are getting out. because they say let's move beyond this and get a much more inclusive government. tikrit is going to be one of the toughest fights for the iraqi army once they go in. we are hearing special forces helicopters landed just on the outside of tikrit in the university stadium. they were going to use the stadium as a foothold. the idea is that the special forces secured it. we are hear

i would suggest it's easier to lobby a ruling party in the uk from a business perspective, particularlyparty to get your way than it might be here in the united states. >> a lot of evidence toward that. tomorrow will be crazy. >> or the ecb. >> get some rest. >> crazy or not. >> either way. thanks, simon. solar stocks have been making dramatic moves to the upside lately. that's likely to continue. jackie deangelis has names you may want to pay attention to. >> hey, good morning, carl. that's exactly right. we are many the mo jaif mojave desert. behind me the solar star projects designed by sun power. when complete the facility will generate enough power to operate a city the size of rochester new york. that gives you an idea of the size and scale of the industry. where are the buys here? it depends on where you are in the value chain. analysts like companies with services to end users. they like the specialty component makers. raymond james likes a company called advanced energy industries. >> this company is the third largest are provider of oh solar inverters globally. and the inverte

but, you know, there are sort of huge issues on the agenda for the uk and europe over the next sort of four years. it poses very difficult challenges for chancellor merkel because how does she make the concessions necessary to come ron feels that he has enough of a victory to be able to keep the uk in, you know, while also deepening integration within the euro zone and doing the things that are nood needed to fix the monetary union. what is your assessment of, not so much uk and the referendum, but on the diplomacy between cameron and merkel and how that plays into europe's future. is it possible for the chancellor to pull off this balancing act and keep cameron happy while deepening immigration or is there a tradeoff there? >> there's a lot of mechanisms that have been set in motion that will have unpredictable effects. you have this odd situation that chancellor merkel does not want britain to leave and she's willing to do quite a a lot to keep britain in. although people say not any price. the leaders of the political parties in britain all of them are committed to the idea that bri

marginal red around the place. uks are up, but the big news, the euro zone inflation for may dropped to 0.5%. ecb acting on interest rates, only small moves, to take the deposit into negative on thursday. and yesterday, the german print on inflation at 0.6%. the problem, as you can see, the former ecb economist puts it in the magazine today. certainlily the interest rates are all tapped out. it's been exhausted as he says. look at the german yield. a full 114 basises points bhoe the treasuries of the moment. so presumably, liquidity measures on thursday as well. it's very doubtful there will be full qe as you discussed on the program. i wanted to mention this, the french foreign minister, upping the ante to fine b and p $10 billion for allowing transactions with syria and the like. he suggested it's unacceptable and impact free trade talks between the use and europe. and spain is reeling from the news yesterday that the king of spain, carlos, is abdicating. republicans were on the streets last night. today, the cabine

too fed rat for his liking but i think we can all make mends and solve the situation and i think in the uk, some people really seriously need to wake up and smell the coffee, the european union is a good thing for the united kingdom. >> what a great day. >> reporter: so today, the eu's influence in the wider europe taking a significant new turn with ukraine deal especially. but its own internal politics also likely to overshadow it within hours. >> interesting there to see the leader of finland saying that britain had to wake up and smell the coffee. that whole issue of mr. juncker still percolating here in brussels but the focus is on the association agreement, particularly that ukraine has signed. and you saw there herman van rompuy. the other comment he made a little later in the morning was that he said there was nothing in these agreements that was signed with ukraine, georgia and moldova that might harm russia in any way. he said there was nothing for russia to worry about. unlikely these kind of comments really, david, are going to reassure russia and president putin. the bbc has be

cameron's facing this challenge on the right from the uk independents party wanting to pull out of europe. obama today, play the sound about what he said about how he thinks britain should be in europe. can we play that? >> it's also hard for me to imagine it would be advantageous for great britain to be excluded from political decisions that have an enormous impact on its economic and political life. >> this is in brussels, where the prime minister who is saying we're going have a referendum whether to stay in europe, that's not helpful to cameron, is it? >> i think it is helpful. cameron's position, we'll ask for a better deal, then a referendum, i'm going to campaign to stay in. insofar obama is liked that helps cameron. what your clip didn't show was there's a referendum in britain for scotland to break way from the uk and become independent country and obama weighed in there, saying scotland should stay with the uk, something cameron asked him to say. there's a backlash at home, a keep your nose out of our hagous. i think it's more helpful than not as an intervention. >> the presiden

the condom company in the uk did a survey. they said over a quarter of men from the uk said they would turn down sex to watch the world cup. that also means that 3/4th of them would have sex and not watch the game. >> what is your point. >> my point is if you're team is not playing. >> all right. this is supposed to be really cute. police officers rap and sing katy's park hordark horse. this is when the cops don't have anything to do. they are sitting in their cars waiting around. >> some cops are singing it in texas. >> ♪ are you ready for, ♪ ♪ the perfect storm ♪ there's no going back ♪ she's a beat ♪ she'll eat your heart out like jeffrey dahmer ♪ ♪ shorty's heart is on steroids because her love is so strong ♪ ♪ >>> just another way for you to snuck on -- >> my favorite part is the guy is singing the katy perry part. >> they are called the hip hop cops. >> very cute. although i don't like the song. i can't help it. >> time for our favorite things. >> we're sharing it. this is called nourish snacks. if you look at this. look

furman, does the uk hold any lessons for the u.s.?> i think you want to look back a little bit further and ask what countries are today compared to where they were prior to the crisis. the united states we attain its per capita gdp that it had reached in 2007, the end of 2007, within four and half years after the crisis ended. that was actually remarkably fast period after financial crisis the usually takes about eight years to get back to where you were before it begins and i think that was a combination of extraordinary fiscal and monetary financial housing across the board auto response. europe isn't back yet. the uk isn't back yet. france isn't back yet. most of europe is not back yet. germany has, and i think that tells you to some degree about the difference in those policies. and the european economies are starting to strengthen. they are starting to in greece -- to increase their aggregate demand. there's a lot of structural challenges going forward in terms of how they're doing supervision but they still need that aggregate d

we have the latest trade data out of the uk as well. obal goods trade balance minus 8.924 billion. we thought it widened to around 8.65 billion. the trade balance minus 3.7 billion. that's wider than 3.1 as well that we were particularly looking for. the headline trade deficit figures include an estimate for oil figures, exports to the eu which were omitted from the detailed figures. sterling, we'll see what happens. it was just over 1.68 before that data comes out. trade deficit looks wider than we thought. european equities, an hour and a half into the trading day, they are up 0.3% for the ftse, 0.2 for the xetra dax. ftse mib still had the best gains yesterday. we continue to see bond yields come down and post the ecb action and indeed in spain as well. yields on ten-year paper in italy have now got a 2.8% handle on them. there we go. 3.81 is where we currently stand. treasury yields, they fall this morning. on the currency markets, keep your eye on the euro dollar. 1.3628. we were just above 1.36 prethe ecb announcement. we came all

in the uk, in france, in denmark, populous parties actually got the largest share of the vote. that means in a french election you could have a candidate named lupen become the next president. i don't think it's going to happen. if it did happen, even though i agree with andy getting out of the euro or getting out of the european union is a very tall order, it would fundamentally change the equation. i'm less confident than andy that the uk is there to stay. i would say if cameron wins, there is a better than even chance that the uk will leave the union, but that's obviously a speculative venture and at least the polling numbers right now don't put cameron in very good position. bottom line is it's worrisome what happened. the european union has been shaken by this event. it will make europe harder to move forward which is worrisome from the perspective of what happens if another major economic financial crisis emerges. the germans in particular aren't ready for full scale banking and fiscal union. i'm not convinced the eu is out of the woods when it comes to the financial cris

should we not be worried, since this is in the uk, or could these uk jump the pond at any moment?ats. >> i don't think we have to worry about them jumping the pond. we're using rat poison here, probably sitting above a bunch of super rats right now, and even super-duper rats plotting and planning. >> that's right, because if the super rats breed, they'll create a race of super-duper rats, who will be extra deadly, extra poisonous. >> is there a way to fight them with super cats? >> then we run the risk of having boring pets, greg, and i don't think anyone wants that future. >> why would they be boring? >> cats seem apathetic when you come home. you don't know if they love you or nothing. they're just like, hey, there's that guy. >> we're going to get letters on that one. >> you are. >> but anyway, a study has found that the great white shark population is rapidly growing off the california coast thanks to various laws meant to protect them np in australia, a nine-foot great white was eaten by a bigger great white. let me get this straight. not only are they growing in numbers, the

>> well this is based on the analysis is of satellite data coming from the uk based company which provided a lot of information. they've not given details on why they feel certain it was on auto pilot. basically it ran out of fuel and crashed into the sea. they are saying that this new search area, this massive search area, around about the size of texas. you can understand why it's going to take a year to search it. they're saying this does fall on that southern ark going over the southern indian ocean which has been the focus of the search since back in march now. >> thank you very much john. >>> the extremist preacher abu qatada is found not guilty. the cleric was deported from britain last year after a long legal process. about eight years in fact. gordon was in court for us. i asked how the events unfolded. >> reporter: it was a dramatic scene at the state security court an hour or so ago when the verdict was read out. abu was in court in an iron cage. when he heard he had been acquitted on the first charge he broke down in tears a few feet from me. he's not yet a free man. he was tri

the uk government pledged to increase research funding to $112 million by 2015. till under a tenth of what's spent on cancer research according to alzheimers research. >> we need new ways of removing barriers. the only way we get new treatments if we lift investment and collaboration worldwide. >> the government is announcing the world's biggest global study into dementia at today's summit including 2 million volunteers. the goal, end to suffering of tens of millions of families across the world dealing with this devastating disease. >> do stay with us on "gmt." later in the program we're going to take you live to that dementia summit. i'll be joined by the global envoy on dementia to give his thoughts and how more can be done to tackle this incredible devastating disease. do stay with us. and it doesn't even fly. we build it in classrooms and exhibit halls, mentoring tomorrow's innovators. we build it raising roofs, preserving habitats and serving america's veterans. every day, thousands of boeing volunteers help make their communities the best they can be. build

given how wrong the u.s. and ukt presence of wmd, wrong about saddam working with al qaeda, and given our failure to predict and plan for an insurgency here after the occupation, what makes you so sure that now you've got the right prescription for what needs to be done here about the current crisis? >> well, look, it's important for a start that we do learn the lessons, the actual lessons of what happened. what happened was that saddam was removed reasonably quickly, within a few months. but then what shaped you've got this sectarian fight where internal dissidents combined with external forces to try and overwhelm the wishes of the majority of people. >> doesn't history show that unless a regime, though, is willing to make changes itself, no outside power can intervene and really do it for them? you look at what happened in south vietnam. unless that regime had actually been willing to stop being corrupt or actually meet the needs of its people, no amount of western involvement would have helped. you write about n